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The Mortgage Calculator
The Mortgage Process
Typical Mortgage Process
The mortgage loan process largely consists of “mortgage paperwork,” which is mostly about providing documents that show how much you earn, where you’ve lived, your monthly debts, and account balances. You can provide much of this information either in person or through your application.
In order, the process looks like this:
Mortgage Pre-Approval
Getting pre-approved is quick and straightforward. We’ll review your credit history and income to determine how much you qualify for and provide a pre-approval letter that shows sellers you’re a serious, qualified buyer.
House Shopping
Once you’ve found your new home and your offer has been accepted, both parties sign a purchase agreement. From there, we move forward to finalize your loan details and lock in your financing.
Mortgage Application
We’ll help you gather the required documents and complete your loan application. You’ll receive a Loan Estimate outlining the interest rate, closing costs, and projected monthly payment — including principal, interest, taxes, and insurance.
Loan Processing
Our processing team carefully reviews your information, verifies all documents, and organizes the file for underwriting — ensuring everything is in place for a smooth approval.
Underwriting
The underwriter reviews your full loan package to confirm eligibility. They assess your credit, income, and the property itself to ensure everything meets lending requirements.
Closing
At closing, you’ll sign the final documents to complete your purchase or refinance. Once the title company records and funds the loan, the process is complete — and you’re officially done. Congratulations!
We’re Here Every Step of the Way
At Global Equity Mortgage, our mission is to make the lending experience simple, transparent, and stress-free. Whether you’re buying your first home or refinancing, we’re with you every step of the way.
Documents Required for a Home Mortgage Loan
Basic Documentation
- Social Security numbers or ITINs for all borrowers
- Home addresses for the past two years
- Most recent 30 days of pay stubs
- Last two years of W-2s, or if self-employed, 1099s or K-1s
- Last two years of federal tax returns (personal and business, if self-employed)
- Two to three months of bank statements for checking, savings, and retirement accounts
- Recent statements for other debt (auto loans, student loans, credit cards, etc.)
- Social Security or pension award letters (if applicable)
- Year-to-date profit & loss statement and balance sheet (if self-employed)
- Gift letter (if down payment or closing funds are from relatives)
- Landlord contact information and rent/utility payment history (if applicable)
Additional Documentation (As Needed)
- Government-issued photo ID
- Copy of Social Security card(s)
- Documentation of child support or divorce settlements (if applicable)
- Current mortgage or HELOC statements for existing properties
- Signed purchase and sale agreement
- Bankruptcy papers (if filed within the past seven years)
- Written explanations for late payments, collections, or recent credit inquiries
Tip from Global Equity Mortgage
Documents Required for a Home Mortgage Loan
It’s natural to feel a bit apprehensive about the mortgage process, especially as a first-time buyer. Below is a list of documents you’ll typically need when applying for a loan. Having these ready can help the process move along smoothly:
- Social Security numbers or ITINs for all borrowers
- Home addresses for the past two years
- Most recent 30 days of paystubs
- Last two years of W-2s, or if self-employed, 1099s or K-1s
- Last two years of federal tax returns (personal and business if self-employed)
- Two to three months of bank statements for checking, savings, retirement accounts, and credit cards
- Statements for other debt (car loans, student loans, etc.)
- Social Security or pension award letters, if applicable
- Year-to-date profit & loss statements/balance sheets if self-employed
- Gift letter (if funds from relatives will be used for down payment/closing costs)
- Landlord’s contact information, plus rent/utility payment history if applicable
Depending on your circumstances, you may also need:
- Government-issued photo ID
- Copy of Social Security card(s)
- Documentation of child support or divorce settlements (if applicable)
- Mortgage or HELOC statements for existing properties
- Signed purchase and sale agreement
- Bankruptcy papers (if filed within the past 7 years)
- Explanations for late payments, collections, or recent credit inquiries
Mortgage Calculator
This section will feature an interactive mortgage calculator that allows users to estimate monthly payments based on loan amount, interest rate, and term length. It’s a quick way for clients to get a sense of affordability before starting the process.